🗞 Daily Crypto News, October 4th💰

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Will the Federal Reserve Go After Tether?
Global Lending System Can Be Improved With Blockchain
Bitpay Sprints Towards Processing $1B Bitcoin Payments Annually
BlackRock CEO Larry Fink Is a 'Big Believer' in Cryptocurrency
Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin Services
Ethereum Testnet Faces Attack But Byzantium Delay Unlikely
BTC Trading Update by @cryptopassion

🗞 Will the Federal Reserve Go After Tether?

Over the past few months, we have come across a few reasons to grow weary of the Tether project. After the team created millions of USDT out of thin air, many people were eager to see whether the company would release a financial statement confirming they possessed the corresponding amount of USD holdings. So far, things seem to be adding up, but there are still other concerns associated with Tether that can’t be dismissed so easily.

As most people are well aware, the USDT is a digital representation of one US Dollar. However, the “Tether dollar” is not issued by the Federal Reserve and has always been somewhat of a controversial cryptocurrency in this regard. With its value fixed at US$1 per token, there is no room for speculation either, which can be considered both a good and a bad thing right now. Backing all tethers with actual assets is not an easy feat, especially with nearly half a billion tethers in circulation right now.

🗞 Global Lending System Can Be Improved With Blockchain

Not everyone has the means to open a personal or business bank account but practically, everyone needs to make transactions that involve money. In fact, World Bank Global Findex indicates that two billion individuals have no access to bank accounts.

In the US alone, 7% of households are unbanked according to the latest data by the FDIC.

While these figures dropped significantly in 2014, studies show that having a bank account has a direct correlation with the one’s standard of living. If somebody has a bank account, he can have access to better loans, savings, business startups, and property acquisition options.

How can Blockchain help?

1. Easier access to mainstream financial system

2. Easier and more affordable remittances

3. Access to more reliable financial products and better protection

🗞 Bitpay Sprints Towards Processing $1B Bitcoin Payments Annually

The global bitcoin payment service provider, Bitpay, has released a progress report that details the company’s payment volume has grown exponentially this year by 328 percent. The Atlanta-based company founded in 2011 says it’s steadily approaching US$1B in bitcoin payments processed annually.

The Bitcoin Payment Service Provider Sees Exponential Merchant Growth in the U.S. and Abroad

Bitpay also says they have seen a lot of growth in bitcoin spending. According to the company’s merchant-base, the startup’s “merchants are receiving $110M+ in bitcoin payments per month.” For instance, the precious metals brokerage JM Bullion processed roughly $4M in BTC sales in June. Alongside this, the popular electronics shop Newegg doubled its bitcoin sales says Bitpay and a lot of merchants are seeing $1M a month in bitcoin revenue.

An Increase In Luxury Purchases and Real Estate

“In 2017 we’ve focused closely on bringing bitcoin’s value to bear on the problems of high-value payments, which are often subject to slow bank transfer times or high processing fees and fraud rates with credit cards,” Bitpay reveals. To that end, we’ve on-boarded several real estate companies and processed several 6- and 7-figure real estate purchases this year.

🗞 BlackRock CEO Larry Fink Is a 'Big Believer' in Cryptocurrency

The CEO of the world's largest asset manager sees "huge opportunities" for cryptocurrencies – but argues that work needs to be done before they become more widely accepted.

In a new interview with Bloomberg TV, BlackRock chief Larry Fink said that he's a "big believer", but that the current market today is primarily focused on speculation. His comments come months after the firm's chief strategist said that, to him, the cryptocurrency market charts at the time looked "pretty scary."

Fink said in the interview:

"Related to cryptocurrencies, I'm a big believer in the potential of what a cryptocurrency can do. You see huge opportunities, but what we're talking about today, it's much more of a speculative platform, people are speculating on it."

🗞 Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin Services

Avanza Bank Offers Bitcoin Price Tracking — Says More Customers Are Investing In Cryptocurrencies

Sweden’s Largest Online Stockbroker Avanza Bank Adds Bitcoin ServicesThe Swedish firm Avanza Bank Holdings founded in 1999 is a well-known financial establishment in the region. The brokerage service participates in the largest number of trades that take place on the Stockholm Stock Exchange. This week the financial institution announced it would provide a feature that allows a complete picture of their customer’s portfolio; including bitcoin investments. According to the bank’s press release, Avanza customers will be able to view both bitcoin and ethereum holdings.

“More and more of our customers are investing in cryptocurrencies, and therefore it is natural that they can follow the value directly with us,” explains the stockbroker’s CEO Johan Prom.

Avanza Joins Other Mainstream Banks Worldwide Offering Bitcoin Services This Year

Avanza Bank Holdings joins a slew of other mainstream financial institutions offering bitcoin services like the U.S. firm’s Fidelity and USAA, the Slovenian bank Hranilnica Lon, and Norway’s largest internet-based bank Skandiabanken. Sweden’s Avanza brokerage group also offers customers the ability to purchase bitcoin using a voucher system.

🗞 Ethereum Testnet Faces Attack But Byzantium Delay Unlikely

A version of the ethereum blockchain being used by developers to test a forthcoming network upgrade is under spam attack.

However, despite the fact that the hard fork is planned for October 17, developers say there's no reason to believe the attacker will delay time-sensitive work. That's not to say there couldn't be complications, though.

During a test period, ethereum developers use an alternate version of the blockchain to test the accuracy of new code. Ropsten is one of three, but it's an important one as it is the only testnet which allows both main ethereum clients, Geth and Parity. In short, unlike other testnets that are meant for more experimental features, Ropsten is unique in that it mimics the proof-of-work consensus model popularized by bitcoin and that ethereum uses today.

BTC Trading Update by @cryptopassion

A small update to say you that we are still following closely my support line and we are not able to break it till now :

So the more time we stay upper of that line, the better it is to confirm our bullish trend

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